Bitcoin plummetted below $7,000 USD for the first time since April 2018.
The drop occurred shortly after South Korean exchange Coinrail announced a "Cyber intrusion" in their system.
Coinrail claims to have frozen exposed NPER, ATX, and NPXS coins, and that other cryptocurrencies are now safely secured in cold storage.
Their website provides no additional information.
Other major cryptocurrencies followed Bitcoin's drop including Ethereum, Litecoin, Ripple, Bitcoin Cash, EOS, and Monero.
This is relatively insignificant compared to other prominent exchanges.
The Coinrail hack is not the only news influencing market prices.
According to WSJ, the US Commodity Futures Trading Commission launched a probe into four major crypto exchanges.
Investigators requested data to uncover price manipulation and the associated news may also be responsible for the market volatility.
The easiest way to stay current with the most important blockchain news and crypto insights.
Bitcoin Dives Below $7,000 Support Level Following Korean Exchange Hack
Published on Jun 11, 2018
by Cryptoslate | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.